Less than two months after Arconic announced it would restart idle equipment in its East Texas plant, the New York-headquartered manufacturer announced it would sell the rolling mill facility to Ta Chen International Inc. The buyer is a U.S. subsidiary of aluminum and stainless-steel distributor Ta Chen Stainless Pipe Co. Ltd., which is based in Taiwan. Ta Chen is paying $300 million in cash for the plant, which is on Alumax Drive in Nash, TX.

The transaction is anticipated to close in Q4 2018. “The strong market conditions for industrial products gave us an opportunity to sell an asset that has been idled for several years,” said Tim Myers with Arconic. The mill is part of the company’s Global Rolled Products segment, and employs approximately 90 people locally.